The stock market opened with a decline for the second consecutive day on Wednesday. However, the market witnessed a strong recovery from lower levels during the day’s trading and then took a spectacular U-turn to close with gains. Nifty closed near 26,050. Bank Nifty touched a record intraday high of 59,264.25. Sectors like media, realty, auto and gas recorded decline, but all other sectoral indices were trading in the green.
Today’s Profit and Loss Shares
ups and downs in IT sector
L&T Tech 8.3%
HCL Tech 4.4%
Infosys 3.6%
Wipro 2.1%
profit in nifty50
Max Healthcare 4.5%
HUL 1.5%
Titan 1.4%
Sun Pharma 1.3%
loss in nifty50
Tata Motors PV -2.6%
Maruti Suzuki -1%
Coal India -1%
Bajaj Finance
Sins
grow -10%
Samman Capital -10%
KEC International -9.6%
Tenneco Clean Air +25%
biggest loss
GMDC -4.8%
Blackbuck -4.7%
Supriya Lifescience -4.6%
Graphite India -4.5%
top gainer
JP Power 15.5%
Gabriel India 11%
Avanti Feeds 10.5%
Linde India 6.6%
Why did the market rise today?
– Well, there is no new or big reason for today’s rise.
– The market is already in good and strong momentum.
Indian IT companies are excited about the reverse trade of AI.
Nifty strengthened due to strong rise of 2% in IT index.
Looking at the screen, it seems that today again the selling pressure of foreign institutional investors (FIIs) will reduce.
– Domestic institutional investors (DIIs) set a new record of buying for 58 consecutive days.
Will it fall in the last hour and a half?
– Nifty at important resistance level of 26000-26100
– If this happens, it will remain at this level
– A significant rise will be seen in Nifty if it crosses 26100.
– Strong support at Nifty 25850-25935, Bank Nifty 58600-58800
– Bank Nifty will see significant rise above 59150
– Nifty 25850, if Bank Nifty closes below 58500 then it will be weak.
– Nifty 26025, will increase further if Bank Nifty closes above 59000
Why are IT stocks so bullish?
– Strong rise in IT shares as expected
– Nasdaq rises despite weakness
– AI reverse trading seen in Indian IT companies
Initially, Nifty was trading near yesterday’s low. A decline was also seen in Sensex and Bank Nifty. Sensex fell by almost 60 points. Nifty also fell by about 40 points. Banking shares opened weak. Buying was seen in IT stocks.
Sensex opened 30 points lower at 84,643. Nifty opened 8 points higher at 25,918. Bank Nifty opened 9 points higher at 58,908. In the currency market, the rupee strengthened by 4 paise to open at 88.57/dollar. Infosys, MCX Healthcare, TCS, HUL, Tech Mahindra, HCL Tech, Shriram Finance and Nestle were the top gainers. TMPV, Coal India, HDFC Bank, NTPC, Indigo, HDFC Life, Apollo Hospitals and ITC were the biggest losers.
Many important signals are coming from both global and domestic markets. A sharp fall in tech and AI stocks has put pressure on US markets, while domestically, investors will keep an eye on fund flows, IPO activities and corporate updates. These early signals give a clear indication of how the market will open.
Selling pressure in global markets
Heavy selling was seen in technology and artificial intelligence (AI) stocks in the US markets, the impact of which was clearly visible on the benchmark indices. The Dow Jones Industrial Average fell 500 points to close at a one-month low for the fourth consecutive day. The Nasdaq index, which leads the tech sector, fell 275 points to a five-week low. Asian cues are mixed, with GIFT Nifty trading steady around 25,950 in early hours. Dow futures are seeing a modest gain of about 50 points, which could provide some support.